>

1.24b SGD worth of unsold properties in Johor

By EdgeProp Malaysia

/ EdgeProp Malaysia |

December 20, 2018 1:01 PM SGT

JOHOR BAHRU (Dec 19): The southern state of Johor has 5,988 units of unsold properties worth RM3.8 billion, reported The Star yesterday.

“Based on statistics, there is a mismatch between demand and supply, especially with developers trying to make the most profits by building more high-end properties,” State Housing and Rural Development Committee chairman Dzulkefly Ahmad was reported as saying by the English daily.

He also revealed that the type of properties not sold include service apartments and properties valued between RM500,000 and RM1 million.

Dzulkefly added that the housing market in Johor “has to be reformed” to enable up to 100,000 affordable homes to be built by 2023.

“We need to reform in terms of building, distribution, financing and reducing building costs.

“There are weaknesses which can be manipulated by unscrupulous developers,” he said

He also said “so far, some 134,195 affordable homes were yet to be built by developers”.

In a report last week, The Johor chapter of the Real Estate and Housing Developers Association Malaysia (REHDA) has called for a faster mechanism to release unsold bumiputera quota houses to enable developers to help the state government build 100,000 affordable homes by 2023.

In a joint statement by its committee members, Johor REHDA said there was a need for “a clear and easy implementation checklist” for the release of unsold bumiputera quota units.

“This stock of unsold units is not beneficial to the government nor developers.

“It is crucial that these unsold units be released and open for sale to generate income to the government in terms of tax revenue, quit rent and assessment, as well as to allow ownership for those in need of a home,” said the statement.

Tags:

Johor Bahru

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

Is it a Good Deal?: A 99-year leasehold three-bedder in Bedok sold for $1,098 psf

Our Site

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.